The economic value of data, its importance in decision making. Case studies related to the concept of Design thinking and how critical thinking is most important in journey towards Innovation & Technology.
About the Workshop – Mr. Rohit Pandharkar – Global Head of Data Science at OLX Autos, shared his journey – When he started in role in Mahindra group, his first step was to meet our business CEOs and understand their “wish-lists” on what strategic initiatives, new innovative products, new business models or efficiency they wished to drive using Data Science, and at times jointly brainstorming with them on these ideas.
What is a need for the society has become an opportunity for businesses to leverage this whitespace- leading to social innovation.
Design Thinking is that designers’ work processes can help us systematically extract, teach, learn and apply these human-cantered techniques to solve problems in a creative and innovative way—in our designs, in our businesses, in our countries, in our lives.
Some of the world’s leading brands, such as Apple, Google and Samsung, rapidly adopted the design thinking approach, and leading universities around the world teach the related methodology—including Stanford and Harvard.
Design thinking is more than just a process; it opens an entirely new way to think, and it offers a collection of hands-on methods to help you apply this new mindset.
Design thinking is an iterative and non-linear process that contains five phases: 1. Empathize, 2. Define, 3. Ideate, 4. Prototype and 5. Test. You can carry these stages out in parallel, repeat them and circle back to a previous stage at any point in the process.
Good critical thinkers can draw reasonable conclusions from a set of information and discriminate between useful and less useful details to solve problems or make decisions. you need to be able to communicate with others to share your ideas effectively. You might also need to engage in critical thinking in a group. In this case, you will need to work with others and communicate effectively to figure out solutions to complex problems.
Design Innovation, as you can infer, is a process used to create innovation. It focuses on addressing people’s needs with what is technologically feasible and devising a viable business strategy to derive value from this market opportunity.
Design Innovation is a unique blend of design thinking, computational thinking, maker culture, and business. The 4 main gears span across the three grids of desirability, feasibility, and viability, evolving across the different stages of the innovation cycle.
- Proof of Value (POV)
- Proof of Concept (POC)
- Proof of Market (POM)
- Proof of Impact (POI)
